DONALDSON Co INC — Director's Dealing 2003

Sep 9, 2003

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: DONALDSON CO INC (DCI)
CIK: 0000029644
Period of Report: 2003-09-04

Reporting Person: COOK WILLIAM M (Senior VP)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2003-09-04	Common Stock	M	612	$40.37	Acquired	78840	Direct
2003-09-04	Common Stock	F	510	$57.58	Disposed	78330	Direct
2003-09-04	Common Stock	M	10000	$16.50	Acquired	88330	Direct
2003-09-04	Common Stock	F	6025	$57.58	Disposed	82305	Direct
2003-09-04	Common Stock	M	1010	$11.19	Acquired	83315	Direct
2003-09-04	Common Stock	F	208	$57.58	Disposed	83107	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2003-09-04	Option (right to buy)	$40.37	M	612	Disposed	2003-12-14	Common Stock (612)	Direct
2003-09-04	Option (right to buy)	$16.50	M	10000	Disposed	2004-12-15	Common Stock (10000)	Direct
2003-09-04	Option (right to buy)	$11.19	M	1010	Disposed	2004-12-15	Common Stock (1010)	Direct
2003-09-04	Option (right to buy)	$57.58	A	208	Acquired	2004-12-15	Common Stock (208)	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock	2474	Indirect
Common Stock	18122	Indirect
Common Stock	2619	Indirect